(Institutionalizing 🏛️) Harun STG

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(Institutionalizing 🏛️) Harun STG

(Institutionalizing 🏛️) Harun STG

@TheAaronSTG

Intern at Department of Spontaneous Order Planning

Katılım Mart 2024
436 Takip Edilen37 Takipçiler
(Institutionalizing 🏛️) Harun STG retweetledi
Khoa Vu
Khoa Vu@KhoaVuUmn·
As social scientists, we don't talk enough about how econometrics is a social construct of neoliberalism. We can't separate omitted variable bias from political bias. We can't use regressions without acknowledging the power imbalance between the Global North and Global South.
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Firman Adi w.
Firman Adi w.@itsfirmann·
@Ogaman888 Jangan lupa dewa nya mesias Tan Malaka , di sini kerjanya menghujat budaya lokal atas dalil nya Tan Malaka seperti tradisi kenduri dan weton 😂😂 tapi kerjaanya percaya zodiak tapi benci weton.
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(Institutionalizing 🏛️) Harun STG retweetledi
DreadAnon
DreadAnon@DreadAnon·
🏴󠁧󠁢󠁥󠁮󠁧󠁿 Hitler Dead - what now? 🏴󠁧󠁢󠁳󠁣󠁴󠁿 Hitler Deid - whit noo? 🇳🇱 Hitler Dood - wat nu? 🇿🇦 Hitler Dood - wat nou? 🇩🇪 Hitler Tot - was nun? 🇱🇺 Hitler Dout - wat elo? 🇩🇰 Hitler Død - hvad nu? 🇳🇴 Hitler Død – hva nå? 🇸🇪 Hitler Död – vad nu?
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Kama
Kama@Kama_Kamilia·
🇮🇷🇵🇸🔻: I can’t believe Ukraine is siding with the evil Israel 😠 Ukraine every single day, because of the kind and merciful Iran:
Kate from Kharkiv@BohuslavskaKate

Lviv right now ‼️

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gin!
gin!@kuriiia·
finding out you don't know shit is a very important part of the learning process
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(Institutionalizing 🏛️) Harun STG retweetledi
Rishi | ഋഷി | 🌐🗽🥥🔰🏙
>His argument is that this information fundamentally does not exist in a form that can be articulated and communicated through, lets say, writing. I wonder how much Ludwig Wittgenstein influenced Hayek in coming up with this considering that they were cousins. Wittgenstein showed that following a rule is a "technique" or a practice. You can't write down the "how-to" for every unique situation, you just act. Hayek's "local knowledge" is this exact type of unwritten, practiced intuition that Wittgenstein was talking about. Moreover, Wittgenstein’s "Language-Games" prove that information only makes sense within its specific, local environment. Once a central planner tries to "write it down" as a static statistic sans vital local context, the "truth" of the information is lost/distorted.
Rishi | ഋഷി | 🌐🗽🥥🔰🏙 tweet media
Rafael R. Guthmann@GuthmannR

Hayek's fundamental argument about information economics implies that central planning is impossible because the information required for economic activity is only manifested in the practice of economic activity by the agents. Blocking private enterprise means blocking the process by which this information is manifested. It's not a problem of the central planner lacking computational power, or even a problem of providing incentives in order to extract the information (i.e., it's not a problem of mechanism design). His argument is that this information fundamentally does not exist in a form that can be articulated and communicated through, lets say, writing. Lets consider an example: can the average person write down their utility function in a piece of paper and give the paper to the government in such a way that the central planning computer can replicate that person's consumption patterns over a period of lets say, a year?

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(Institutionalizing 🏛️) Harun STG retweetledi
Rafael R. Guthmann
Rafael R. Guthmann@GuthmannR·
Hayek's fundamental argument about information economics implies that central planning is impossible because the information required for economic activity is only manifested in the practice of economic activity by the agents. Blocking private enterprise means blocking the process by which this information is manifested. It's not a problem of the central planner lacking computational power, or even a problem of providing incentives in order to extract the information (i.e., it's not a problem of mechanism design). His argument is that this information fundamentally does not exist in a form that can be articulated and communicated through, lets say, writing. Lets consider an example: can the average person write down their utility function in a piece of paper and give the paper to the government in such a way that the central planning computer can replicate that person's consumption patterns over a period of lets say, a year?
Daron Acemoglu@DAcemogluMIT

Coming back to Hayek’s argument, there was another aspect of it that has always bothered me. What if computational power of central planners improved tremendously? Would Hayek then be happy with central planning?

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